On the sectoral front, Nifty Bank, FMCG, Auto, IT, Pharma, and Realty indices were down 1-2 percent each, while the Nifty Metal ended in the green.
Technically, the index has been trading with lower highs and lower lows, which suggest weakness for upcoming sessions on the intraday chart, said Palak Kothari, Research Associate, Choice Broking.
Also, the Stochastic & MACD indicator is trading with a negative crossover, which points out the weakness in the counter for the next trading session.
After months of calls for lowering the taxes on the fuels, the Centre on November 4 cut excise duty on diesel by Rs 10 a liter and by Rs 5 on petrol.
The local unit finally settled at 74.52 a dollar, down 18 paise over its previous close of 74.34.
“The market is spooked with yesterday`s CPI data coming in as high as it was.
The company’s initial public offer equity shares and it fixed the price band at Rs 1,120-1,180 per share.
Further, there will be a format for reporting of RPTs to the stock exchanges.
Seven stocks: Punjab National Bank, Sun TV, Bank of Baroda, BHEL, Indiabulls Housing Finance, SAIL and Escorts have been placed under the F&O ban on Monday.